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November 14, 2024  
 
 
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Requirements for Businesses On Getting a Loan

 

 
Loan Census SBA Loan Info

How to Get a Loan for Supermarkets and Grocery Stores

Looking for business loans for supermarkets and grocery stores? Talk to a banker who works with the SBA. This $30,000 supermarkets and grocery stores loan was issued by a New York bank.

This small business knew how to go about getting a business bank loan. Based in Bayside, New York, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Flushing Savings Bank, Fsb, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
BAYSIDE, NY 11364

SBA Loan Lender

FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

1/14/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Flushing Savings Bank, Fsb that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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Banks in New York City, New York

Getting an SBA Loan in New York